Kessler Investment Group LLC acquired a new stake in AT&T Inc. (NYSE:T) during the second quarter, Holdings Channel reports. The fund acquired 78,498 shares of the technology company’s stock, valued at approximately $2,962,000. AT&T makes up about 3.7% of Kessler Investment Group LLC’s portfolio, making the stock its 15th largest position.
A number of other institutional investors have also recently modified their holdings of T. Ancora Advisors LLC increased its position in AT&T by 57.1% in the fourth quarter. Ancora Advisors LLC now owns 228,701 shares of the technology company’s stock valued at $9,726,000 after buying an additional 83,167 shares during the last quarter. Vertex One Asset Management Inc. increased its stake in shares of AT&T by 2.1% in the fourth quarter. Vertex One Asset Management Inc. now owns 24,500 shares of the technology company’s stock worth $1,042,000 after buying an additional 500 shares in the last quarter. Focused Wealth Management Inc increased its stake in shares of AT&T by 2.7% in the fourth quarter. Focused Wealth Management Inc now owns 22,209 shares of the technology company’s stock worth $945,000 after buying an additional 580 shares in the last quarter. Banco Santander S.A. acquired a new stake in shares of AT&T during the fourth quarter worth approximately $679,000. Finally, Huff W R Asset Management Co. LLC DE increased its stake in shares of AT&T by 151.4% in the fourth quarter. Huff W R Asset Management Co. LLC DE now owns 61,870 shares of the technology company’s stock worth $2,631,000 after buying an additional 37,260 shares in the last quarter. 55.24% of the stock is owned by hedge funds and other institutional investors.
Shares of AT&T Inc. (T) traded down 0.8629% during mid-day trading on Tuesday, reaching $38.1678. The company had a trading volume of 5,726,706 shares. The company’s 50-day moving average price is $37.59 and its 200-day moving average price is $39.59. The company has a market capitalization of $234.35 billion, a PE ratio of 17.9360 and a beta of 0.47. AT&T Inc. has a 52-week low of $35.81 and a 52-week high of $43.03.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts forecast that AT&T Inc. will post $2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend was Thursday, July 6th. AT&T’s dividend payout ratio (DPR) is 92.45%.
TRADEMARK VIOLATION NOTICE: “Kessler Investment Group LLC Takes Position in AT&T Inc. (T)” was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://stocknewstimes.com/2017/08/15/kessler-investment-group-llc-takes-position-in-att-inc-t.html.
A number of research analysts recently weighed in on T shares. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.93 target price on the stock in a report on Wednesday, May 24th. Barclays PLC reduced their target price on AT&T from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, July 14th. Royal Bank Of Canada reiterated a “hold” rating and issued a $42.00 target price on shares of AT&T in a report on Sunday, July 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 target price on shares of AT&T in a report on Wednesday, April 19th. Finally, ValuEngine cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $43.50.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T; Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T; Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
